I welcome my fellow traders! I have made a price forecast for US Crude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.
The gold short-term uptrend continues.
The article covers the following subjects:
Oil price forecast for today: USCrude analysis
The oil price is being corrected in the intraday uptrend. The Intermediary Zone 68.51 – 68.24 serves as the target of the correction. In this regard, at the moment it is profitable to look for purchases in the zone of 66.89 – 66.07.
If the indicated above support zone is broken out downside, the intraday trend will reverse down. In this case, switch to sales with the target in the zone of 64.85 – 64.57.
USCrude trading ideas for today:
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Open buy positions according to the pattern in 66.89 – 66.07. TakeProfit: Intermediary Zone 68.51 – 68.24. StopLoss: according to the pattern rules.
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Sell when the Additional Zone 66.21 – 66.07 is broken out. TakeProfit: 64.85 – 64.57. StopLoss: beyond the next local high.
Gold price forecast for today: XAUUSD analysis
The gold short-term uptrend continues. Yesterday, traders tested strong support Additional Zone 1784 – 1783. The zone was held. Now the price is approaching the main target for purchases, which is level 1794. The second target is the Gold Zone 2 1800 – 1798.
To enter gold sales, bears need to break out the Additional Zone and consolidate the price below. In this case, it will be possible to enter a short trade with the target in the Intermediary Zone 1773 – 1770.
XAUUSD trading ideas for today:
Hold purchases in Additional Zone 1784 – 1783. TakeProfit: 1794.8. StopLoss: at the breakeven.
Euro/Dollar forecast for today: EURUSD analysis
The euro’s August 11 low was updated. The Intermediary Zone 1.1802 – 1.1793 yielded profits despite the technical analysis.
For today the short-term euro downtrend continues. If sellers manage to break out the Target Zone 1.1732 – 1.1715, then the next target will be the Gold Zone 1.1644 – 1.1635. If the Target zone is held, then a correction with the first target in ​​the Additional Zone 1.1750 – 1.1746 will occur.
It is relevant to wait for a price correction at strong resistances, and to search for sales according to the patterns in the beforementioned resistance zone. As a target, it is possible to use the support level of 1.1709.
EURUSD trading ideas for today:
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Sell according to the pattern in Additional Zone 1.1750 – 1.1746. TakeProfit: 1.1709. StopLoss: according to the pattern rules.
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Sell according to the pattern in Intermediary Zone 1.1798 – 1.1790. TakeProfit: 1.1709. StopLoss: according to the pattern rules.
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Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
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